RM4.8bil gap between TH reports not proof of audit failure, says ex A-G

Former auditor-general Madinah Mohamad defended the national audit department's audit of Tabung Haji at a forum titled "Realiti dan Persepsi: Jangan Mempolitikkan Tabung Haji". She clarified that the RM4.8 billion difference between her department's findings and a separate PricewaterhouseCoopers (PwC) review does not indicate an audit failure.

Madinah explained that the two assessments had distinct purposes, terms of reference, and methodologies, rendering a direct comparison ineffective. The discrepancies primarily stemmed from how asset impairments and investments, including TH's subsidiaries and associate companies, were recognised and valued. She asserted that her team found no evidence of theft or misappropriation during their audit of TH, and if they had discovered such evidence, they would have reported it to the relevant authorities.

Madinah emphasized that the audit adhered to standards and was based on audited evidence prior to issuing financial statements or certificates. The audit was conducted under the Audit Act 1957 and Tabung Haji Act to ascertain whether TH's financial statements provided a true and fair view according to the applicable accounting standards.